Affin Bank launches new fixed deposit product

Product enables customers with account in local currency to be converted to any foreign currency.

Affin Bank Bhd has launched a new fixed deposit, Affin Fixed Deposit PLUS2, for customers seeking higher returns and the convenience of converting into foreign currencies.

In a statement in Kuala Lumpur Monday, Affin Bank said the product would allow customers with local currency fixed deposit accounts to gain higher interest by converting them into any foreign currency at prevailing published rates.

"The customers' local currency FDs must be converted into any of the bank's chosen currencies -- US dollar, pound sterling, euro, New Zealand dollar, Australia dollar and Singapore dollar.

"Through the conversion into foreign currencies, the customers can gain an extra spread of up to 1.01 per cent on top of their currency local currency FD interest," it said.